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IoT monetization is a process that generates revenue from IoT-enabled products and services. Owing to the growing dependence of the users on the IoT-based products and solutions, the companies charge the users for some extra features or for the entire product as a service. With the beginning of the Internet era along with increasing advancements in technology, almost every device is now interconnected to each other. In addition, due to the emergence of the IoT, numerous offices as well as homes have become smart and are operating through these connected devices. Also, rise in usage of smart devices such as tablets and smartphones is expected to fuel the growth of the global IoT monetization market.
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Rising adoption of cloud platforms, increasing internet connectivity, rising penetration of Industry 4.0, agriculture 2.0, and Logistics 4.0 the some of the major factors that drive the growth of the global IoT monetization market. In addition, growing use of consumer electronics devices is expected to fuel the growth of the global IoT market. However, lack of IoT standards across platforms and rising privacy as well as security concerns are the major factors that impede global IoT monetization market growth. Also, according to Capgemini research report, 70% of enterprises do not get service revenues from their IoT products. Moreover, companies that want to generate revenue from IoT will need to convert the information from smart and connected products into services by using the product's data stream to involve customers with additional services, or by offering the entire product as a service, which is expected to provide lucrative opportunities for the growth of the global IoT monetization market. Furthermore, increasing number of smart lighting and smart city projects is anticipated to provide lucrative growth opportunities for the global IoT monetization market in upcoming years.
The global IoT monetization market is segmented based on component, organization size, industry vertical, business functions, and region. In terms of component, the market is segmented into solutions and services. On the basis of organization size, the market is segmented into large enterprises and small & medium sized enterprises. Based on industry vertical, the market is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. On the basis of business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. By region it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT monetization market is dominated by key players such as Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV, Cisco Systems, Inc., ARIA SYSTEMS, INC., Intel Corp., and General Electric Co.
Key Benefits for IoT Monetization Market:
The study presents an in-depth analysis of the global IoT monetization market along with the current & future trends to elucidate the imminent investment pockets. Information about key drivers, restraints, and opportunities and their impact analysis on the market is provided in this study. Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global image recognition industry. The quantitative analysis of the global IoT monetization market from 2017 to 2025 is provided to determine the market potential.
IoT Monetization Key Market Segments:
By Organization Size
Small & Medium Sized Enterprises
By Industry Vertical
IT & Telecom
Transportation & Logistics
Energy & Utilities
By Business Function
Marketing & Sales
Rest of Europe
Rest of APAC
Key Market Players
Cisco Systems, Inc.
ARIA SYSTEMS, INC.
General Electric Co.